MS HB82

Authorizes the State Bond Commission to issue up to $45,000,000 in general obligation bonds to assist Hinds County with construction and development of the Byram-Clinton Parkway project.

Creates a special "2019 Byram-Clinton Parkway Project Construction Fund" within the State Treasury, separate from the General Fund, to receive bond proceeds and disburse funds as directed by the Department of Finance and Administration.

Bonds may be issued at any time but no later than July 1, 2023, with a maturity period not to exceed 25 years and interest rates subject to Mississippi Code limits.

The full faith and credit of the State of Mississippi is pledged to guarantee payment of principal and interest on the bonds; any shortfall will be paid from the State Treasury.

Bond proceeds are exempt from state taxation and may be used solely for project construction costs and expenses incidental to bond issuance and sale.